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Factors to consider while evaluating the M340i model


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Greetings, fellow individuals. Therefore,

I have just made a financial commitment by placing a deposit on a 2020 MHT model of the M340i, which is characterised by its mineral grey exterior and has accumulated a mileage of 32,000.
Initially, I had a strong preference for the 335d. However, after engaging in a test drive experience with the M340i, I found myself convinced that there was no possibility of reverting to my original inclination.

The vehicle in question is now located at the BMW dealership, where the dealership has included a three-year gap insurance as part of the package.

I have many inquiries:

Are there any considerations that should be taken into account before visiting the car? It is postulated that BMW exhibits elevated standards and is devoid of any acknowledged complications.

2) Are there any supplementary components that are worth investigating? For instance, the inclusion of gap insurance has already been accounted for. I have made many requests to them for an additional year of extended warranty, but, they have not complied with my request.

I would want to express my gratitude to all those present.

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I have a negative opinion towards GAP insurance. The perceived value of an extended warranty is much higher, which likely explains the reluctance to include it. The rationale of placing a deposit on an automobile without physically seeing it is unclear, given this action relinquishes one's ability to negotiate advantageous terms. It is presumed that a significant reduction was obtained from the initial price requested.

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Regrettably, I have decided not to proceed with the automobile. I had a negative experience with BMW. Initially, the party in question expressed their intention to provide a £1000 payment. However, they have since reversed their stance, citing financial constraints as the reason for their inability to fulfil their previous commitment.

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The situation has been resolved and everything is now in order. Ultimately, they demonstrated proficient management of the situation. I received a phone call from one of the managers who expressed their intention to provide me with a follow-up response. Additionally, they assured me that they would uphold their commitment. The vehicle was first listed at a price of about £37,000, but ultimately sold for £36,000, inclusive of gap insurance. I will be retrieving it on Saturday.

I am indifferent to the payment of the deposit, provided it is refundable in the event that the automobile is not purchased.

What I have learned is that there is little flexibility in negotiating the price of the automobile.
The vehicle in question is equipped with the comfort, technology, and visibility package. Considering its late 2020 registration, it is rather satisfactory in my opinion.

Several other vehicles comparable to this one were quickly sold on the same day it was listed.

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I know I'm late to the party, but I just wanted to warn people about the dangers of "free" GAP insurance offered by car dealerships.

When car dealerships advertise "free" GAP insurance, they often discount the price of the car itself to make up for the cost of the GAP insurance, despite having itemised the GAP insurance policy at full price on the final invoice (note... the "invoice" rather than your "order form" - as the two can be different, and it is the invoice that takes priority at the time of any future GAP insurance claim).

On your order form, you may list:

Cost of the vehicle to the owner: £36,000

However, the following may appear on your final bill:

Price on the vehicle invoice: £35,500.00Total Invoice Amount £36,000.00 GAP Insurance Premium £500.00

The issue is that the dealer's GAP coverage is probably an Invoice GAP insurance kind of cover, which only covers the original invoice price you paid for the car after any discounts were applied. Because of this, it would only cover you up to £35,500 instead of the £36,000 you think you paid for it, costing you an extra £500 in the aforementioned scenario.

Motor vehicle dealerships do this because the profit margin on GAP insurance is often high, and dealerships will always present the final invoice in a manner that maximises profits and minimises taxes.

One customer's "free" GAP insurance coverage ended up costing her an exorbitant £824 at the time of a future claim. As you can see (here),

If your car dealer has cheated you out of money in any way (check your bill of sale! ), you may be able to use the fact that you are still inside the GAP policy's cooling-off period (typically 30 days) to your advantage.

Think back to our last example, when GAP insurance was priced at £500 by the dealer. If you cancel during the cooling-off period, they must give you back the whole £500 (perhaps less a modest administration cost, but this is unusual). If you shop around, you may get cheaper Invoice GAP insurance elsewhere.

Forum members may save 10% on a three-year Invoice GAP insurance policy from us (5-star rated, insured at Lloyd's), bringing the total cost for insuring a 2020 M340i with an invoice price of about £36,000 down to £177.17 by using the promo code

You should review your bill to determine if there is any money you may receive back.

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